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The Economic Transformation of the United States Economy

The Economic Transformation of the United States Economy. Describe the sectional difference and features and the nature of our dual economy?. Market Revolution. Features: Mercantilism v. Free Enterprise Agrarianism or Manufacturing Role of the National Government The Ideology

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The Economic Transformation of the United States Economy

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  1. The Economic Transformation of the United States Economy Describe the sectional difference and features and the nature of our dual economy?

  2. Market Revolution • Features: Mercantilism v. Free Enterprise • Agrarianism or Manufacturing • Role of the National Government • The Ideology • Business Cylces • Laissez Faire and Buzzwords • Federalists and Republicrats

  3. An Historical Overview • Colonial Setting Redux • Farmers and Merchants • Putting Out System: Hide/Tallow Example • Cottage Industries • Free Trade and Neutrality • The Factory System • Two Views: Jefferson v. Hamilton

  4. Legal Precedents and Capitalism • Marshall Court • Dartmouth Case and Contracts • National Bank Charter • McCulloch v Maryland • Gibbons v Ogden • Congress and American System

  5. Role of Technology • Patents,Innovations & Yankee Ingenuity • Protestant Work Ethic • Textiles Industry as Catalyst • Interchangeable parts, ass’bly line, and mass production: Ford and Auto • Sources of energy for industry • The Inventors and Inventions

  6. Transportation and Infrastructure • Waterways and Land routes • Tariff Policy and Capital Improvements • The National Road Project • Canals: Erie, Great Lakes and NE • Railroads: North and South • Foreign Trade and Shipping

  7. The Industrial Revolution • What does this mean then and now? • Textiles, Slater Mill & Family System • Waltham System and Factories • Costs of Business • Role of Westward Migration • Jefferson’s Embargo and its Impact

  8. The Urban Setting: Sign of Times and Industrial Transformation • Natural Increases and migration • Demand for goods and consumerism • Trades, Crafts and Industry • Rising Middle Class • Demand for cheap labor • Role of Immigration: Consider the Irish Potato Famine & Revolutions in Europe

  9. The Labor Movement • What are the conditions facing workers? • Wage Slavery? • Rising Problem of Poverty • Women in Textiles • Bread and Butter Issues • Social Problems

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